September 26, 2023
UNIFIN published a bankruptcy scenario analysis for information purposes but reaffirmed its intention to enter into a restructuring agreement backed by most creditors. Negotiations on the final terms to emerge from bankruptcy will continue until October 12, 2023.
- Mexican multi-purpose financial entities (SOFOMES) are facing liquidity concerns after the defaults of AlphaCredit, CREAL, and UNIFIN. The Association of Multiple-Purpose Financial Entities (Asofom) advocates for governance reforms to restore investor confidence.
- Mifel plans an IPO in 2H24 after Citi’s decision to sell Citibanamex through the market. Mifel is assessing organic and inorganic growth opportunities and has scheduled informal investor meetings for 2024. Mifel is also considering participating in Citibanamex’s IPO in 2025.
- Mining fund Appian Capital raised US$6 billion to invest in LatAm, of which up to US$2 billion could be invested in Mexico. The investment decision would be made over the next three years.
- The United States appealed to Mexico to review alleged labor violations under the USMCA, with the latest investigation centered on a Teklas Automotive facility in Aguascalientes. This marks the 14th occasion that the U.S. resorts to the Rapid Response Labor Mechanism.
- VivaAerobus received an Airbus A321neo airplane at the Monterrey airport —the carrier’s 78th aircraft.
- FIBRAMQ goes ex-coupon for a P$0.53 distribution per certificate (6.9% annualized yield).